Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Sällanköp |
| Industri | Resor & Fritid |
The board of directors of SATS ASA (the "Company" and, together with its subsidiaries, the "SATS Group", OSE ticker "SATS") has resolved to implement a share investment program (the "Share Investment Program") for all employees of the SATS Group (the "Eligible Employees"). The Company's nomination committee has proposed that the members of the Company's board of directors shall also be invited to participate in the Share Investment Program, subject to approval by the Company's annual general meeting to be held on or about 28 April 2025 (the "AGM"). The Share Investment Program is implemented with a view to align the interests of the participants with those of the Company's shareholders.
The offer under the Share Investment Program (the "Offer") will comprise up to 2,500,000 shares (the "Offer Shares"). In order to secure delivery of the acquired Offer Shares, the Company will use a combination of 186,541 shares already held in treasury and a portion of the shares from the announced share buyback program. Reference is made to the stock exchange announcement by the Company published earlier today, on 11 February 2025, regarding such share buyback program.
Offer Shares acquired under the Share Investment Program will be subject to a three-year lock-up undertaking. The offer price for the Offer Shares will be set to an amount equal to the volume-weighted average trading price for the Company's shares on the Oslo Stock Exchange during the ten trading days' period up to and including 13 February 2025, with a reduction of 20%, which reflects the value reducing effect of the three-year lock-up period (calculated using the Black & Scholes model).
The application period for the Offer will commence tomorrow, 12 February 2025, at 09:00 hours (CET), and will expire on 14 February 2025 at 16:30 hours (CET).
The Share Investment Program is in line with the guidelines on share-based remuneration for the Company's senior executives, as approved by the Company's annual general meeting on 28 April 2024.
For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Investor Relations, phone: +47 986 99 259
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.